BE wheel: cash-secured put & covered-call yields
Bloom Energy Corporation · Industrials · $262.87 close on Sep 28, 2026
What the Sep 28, 2026 close says about BE
At 85.3% implied volatility, the options market is pricing a one-standard-deviation move of about $66.36 (25.2%) in BE by Oct 30, 2026, 32 days out.
Selling the $240 put (−0.30Δ) for $13.75 means assignment would leave a cost basis of $226.25, 13.9% below the $262.87 close.
The 81-day 0.30Δ put pays 1.6× the premium of the 32-day one for 2.5× the time — more premium per day on the 32-day contract ($0.430 vs $0.272).
At 0.30Δ on the Oct 30 expiry the put yields 5.73% on its strike and the call 4.95% on spot: puts pay 1.2× what calls do on BE this session.
Moving down to the $225 put (−0.21Δ) buys 5.7% more room below spot and keeps 63% of the 0.30Δ premium.
Open interest in the stored window totals 48,786 contracts; the largest single line is the $300 call expiring Dec 18 with 4,010 (8.2% of the window).
By options volume BE ranks #46 of 441 names in our universe.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on BE
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $240 | −0.30 | $13.75 Sep 28 | $1,375.00 | $24,000 | 5.73% | 65.3% | $226.25 | 1,027 | 169 |
| 0.20Δ | $225 | −0.21 | $8.61 Sep 28 | $861.00 | $22,500 | 3.83% | 43.6% | $216.39 | 257 | 131 |
Snapshot #75 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $230 | −0.28 | $22.00 Sep 28 | $2,200.00 | $23,000 | 9.57% | 43.1% | $208.00 | 1,824 | 61 |
| 0.20Δ | $210 | −0.21 | $14.50 Sep 28 | $1,450.00 | $21,000 | 6.90% | 31.1% | $195.50 | 2,292 | 81 |
Snapshot #75 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on BE
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $305 | 0.32 | $13.00 Sep 28 | $1,300.00 | 4.95% | 56.4% | 20.97% | 239.2% | 421 | 15 |
| 0.20Δ | $335 | 0.20 | $6.88 Sep 28 | $688.00 | 2.62% | 29.9% | 30.06% | 342.8% | 20 | 9 |
Snapshot #75 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $350 | 0.30 | $16.28 Sep 28 | $1,628.00 | 6.19% | 27.9% | 39.34% | 177.3% | 1,160 | 123 |
| 0.20Δ | $390 | 0.21 | $11.00 Sep 28 | $1,100.00 | 4.18% | 18.9% | 52.55% | 236.8% | 634 | 10 |
Snapshot #75 · session 2026-09-28 · captured 22:21 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
BE volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 85.3%session 2026-09-28
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 48,786 contractssession 2026-09-28
- Largest open-interest line
- $300 call · Dec 18 · 4,010
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #46 of 441 optionable names by options volume
How these numbers are made
One end-of-day snapshot per session from a 15-minute-delayed feed. A premium is a contract’s last trade, used only if it printed that session, sits above intrinsic value and is in order with its neighbours; deltas are the feed’s own. Expiries are the first at least 30 and 60 days out, and nothing under 30 days is annualized. Not investment advice. Full methodology.
- We are building our own daily implied-volatility history (1 of 252 sessions so far); IV rank and percentile need a full year of it.
- Our data provider does not license announced earnings dates, and we do not publish estimates.
- Our data feed carries last trades, not live bid/ask quotes, so we cannot show a spread.